Question

Prepare a balance sheet for a not-for-profit entity from :                        Revenue         

Prepare a balance sheet for a not-for-profit entity from :           

            Revenue          $100,000

            Depreciation Expense $10,000

            Cash $400,000

            Accounts Payable $15,000

            Accounts Receivable $20,000

            Allowance for Doubtful Accounts ($5,000)

            Equipment $18,000

            Accumulated Depreciation ($7,000)

            Salaries Payable $9,000

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
How do I complete this balance sheet? Cash 10,000 Accounts Payable 15,000 Prepaid Expense 1,000 Building...
How do I complete this balance sheet? Cash 10,000 Accounts Payable 15,000 Prepaid Expense 1,000 Building 150,000 Land 100,000 Mortgage Payable 50,000 Treasury Stock 50,000 Accounts Receivable 15,000 Equipment 50,000 Accumulated Depreciation  75,000 Allowance for Doubtful Accounts 1,000 Current Maturity of Mortgage Payable 25,000 Common Stock 200,000 Retained Earnings 17,000 Inventory 7,000
Given the following account information for Leong Corporation, prepare a balance sheet            (8 Marks) in report form...
Given the following account information for Leong Corporation, prepare a balance sheet             in report form for the company as of December 31, 2017. All accounts have normal balances. Equipment                                         70,000 Interest Expense                               2,400 Interest Payable                                600 Retained Earnings                          234,680 Land                                               137,320 Accounts Receivable                        102,000 Bonds Payable                                  78,000 Notes Payable (due in 6 months)      34,400 Common Stock                                 70,000 Accumulated Depreciation - Equip   10,000 Prepaid Advertising                          5,000 Service Revenue                           351,400 Buildings        80,400 Supplies                                        1,860 Income Taxes Payable                 3,000 Utilities Expense                           1,320 Advertising Expense                     1,560 Salaries and Wages Expense       53,040 Salaries and Wages Payable        900 Accumulated Depr. - Bld.             15,000 Cash                                             50,000 Depreciation Expense                  8,000...
Prepare a balance sheet from the following information:  B.Smith, capital: $84,000; Automobile = $13,000; Furniture and fixtures...
Prepare a balance sheet from the following information:  B.Smith, capital: $84,000; Automobile = $13,000; Furniture and fixtures = $7,000; Accounts payable = $2000; Building = $10,000; Notes Payable = $15,000; Land = $40,000; Accounts receivable = $8000; Equipment = $20,000; Cash = $3000
Prepare the 4 required year-end closing entries, given the following adjusted trial balance. Use Journal Entry...
Prepare the 4 required year-end closing entries, given the following adjusted trial balance. Use Journal Entry format. DEBIT CREDIT Cash $112,000 Accounts Receivable $27,000 Prepaid Rent $15,000 Prepaid Insurance $9,000 Office Supplies $3,300 Equipment $38,000 Accumulated Depreciation - Equipment $3,200 Building $288,000 Accumulated Depreciation - Building $42,000 Land $700,000 Accounts Payable $25,800 Salaries Payable $14,500 Interest Payable $2,500 Notes Payable $72,000 Common Stock $200,000 Retained Earnings $710,000 Dividends $200,500 Service fees earned $430,800 Salaries Expense $90,000 Insurance Expense $5,200 Rent...
ABC Co. Sales were $210,000 before a $10,000 return. COGS were $150,000. Salary Expense was $10,000....
ABC Co. Sales were $210,000 before a $10,000 return. COGS were $150,000. Salary Expense was $10,000. Depreciation Expense was $5,000. Bad Debt Expense was $3,000. Interest expense was $1,000. Tax Expense was a $1,000. Retained earnings had a beginning of the year balance of $25,000. Dividends paid were $5,000. The end of year (final) balances are as follows: Cash $50,000; Accounts Receivable had an ending $80,000 balance; Accumulated depreciation had a $60,000 balance; allowance for doubtful accounts had a $20,000...
5. Devon’s bookkeeper provided the following balance sheet. DEVON COMPANY Balance Report for the year ended...
5. Devon’s bookkeeper provided the following balance sheet. DEVON COMPANY Balance Report for the year ended December 31, 2016 Current Assets: Cash $ 58,000 Current Liabilities: Accounts payable $ 25,000 Accounts receivable 123,500 Accumulated depreciation: buildings 20,000 Inventory, at higher of cost or market (cost $29,850) 35,800 Wages payable 22,200 Sinking fund for bond retirement 115,000 Additional paid-in capital on common stock 100,000 Long-Term Investments: Long-Term Liabilities: Treasury stock (at cost) 55,500 Bonds payable 100,000 Investments in bonds Marketable securities,...
Prepare a multiple-step income statement for Yazdy Company for 2020 DR. CR. Accounts Payable 26,000 Accounts...
Prepare a multiple-step income statement for Yazdy Company for 2020 DR. CR. Accounts Payable 26,000 Accounts Receivable 57,000 Accumulated Depreciation – Equipment   40,000 Depreciation Expense 13,000 Sales Revenue 250,000 Cash 25,000 Common Stock 50,000 Equipment 150,000 Investment in Debt Securities 45,000 Freight-out 5,000 Insurance Expense 2,500 Salaries and Wages expense 30,000 Rent Expense 20,000 Sales Discount 8,000 Retained Earnings 25500 Prepaid Insurance 7,500 Sales Return and Allowance 12,000 Gain on Disposal of Plant Asset 6,000 Dividends 7,000 Interest Expense 7,500...
Please prepare a balance sheet with the information below. Retained Earnings Retained Earnings      14,544 Net...
Please prepare a balance sheet with the information below. Retained Earnings Retained Earnings      14,544 Net Income      10,777 Dividends Distributed      (6,577) Retained Earnings Ending Balance      18,744 Income Statement Sales      56,875 Cost of Goods Sold      32,733 Gross Profit      24,142 Operating and Admin Expenses Salaries Expense         3,255 Depreciation Expense: Equipment            322 Depreciation Expense: Building            460 Bad Debt Expense            896 Insurance Expense         1,100 Other Expenses            956 Operating and Admin Expenses        ...
Current Liabilities and Ratios Several accounts that appeared on Spring's 2017 balance sheet are as follows:...
Current Liabilities and Ratios Several accounts that appeared on Spring's 2017 balance sheet are as follows: Accounts Payable $83,000 Equipment $950,000 Marketable Securities 40,000 Taxes Payable 15,000 Accounts Receivable 185,200 Retained Earnings 250,000 Notes Payable, 12%, due in 60 days 20,000 Inventory 165,000 Capital Stock 1,150,000 Allowance for Doubtful Accounts 20,000 Salaries Payable 10,000 Land 600,000 Cash 65,000 Required: 1. Prepare the Current Liabilities section of Spring's 2017 balance sheet. Spring Partial Balance Sheet As Of December 31, 2017 Current...
a comparative balance sheet for ALPHAinc at December 31,2017 is shown below. 2017 2016 Change cash...
a comparative balance sheet for ALPHAinc at December 31,2017 is shown below. 2017 2016 Change cash 30,000 35,000 -5,000    accounts receivable 55,000 45,000 10,000 inventory 65,000 45,000 20,000 preppaid expense 15,000 25,000 -10,000 land 70,000 40,000 30,000 right of use of asset 100,000 0 100,000 equipment 90,000 75,000 15,000 accumulated depreciation -18,000 -8,000 -10,000 total 407,000 257,000 150,000 Accounts payable 65,000 52,000 13,000 accrued expense 15,000 18,000 3,000 notes payable 0 23,000 -23,000 bonds payable 30,000 0 30,000 lease...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT